Delhivery, a prominent logistics and supply chain service provider, has denied any discussions regarding the acquisition of logistics player Gati. In an exchange filing, Delhivery clarified that the news suggesting talks with Gati is factually incorrect and baseless. Earlier reports had claimed that Delhivery was engaged in early-stage discussions with Gati, a company under the All Cargo Group, for a potential acquisition.
The media reports mentioned that the companies had been in talks for approximately a month. However, Delhivery’s official statement dismisses these claims entirely, asserting that there have been no such discussions whatsoever.
This clarification comes shortly after Delhivery’s announcement of plans to invest in Vinculum, an ecommerce SaaS company. Additionally, Delhivery released its quarterly results last week, reporting a 10% decline in revenue for the March quarter compared to the previous year. The company’s net loss also widened during this period.
Despite the challenging market conditions and a slowdown in demand, Delhivery’s co-founder and CEO, Sahil Barua, expressed confidence in the growth of the online retail sector, projecting a 15-20% increase. Barua emphasized that Delhivery sees advantages in a market where customers prioritize profitability.
With the denial of acquisition talks with Gati, Delhivery remains focused on its strategic investments and navigating the evolving logistics landscape in the e-commerce sector.
